QQQ vs SAFT: Correlation
How closely do Invesco QQQ Trust (QQQ) and Safety Insurance Group, Inc. (SAFT) trade together? Their weekly returns over three years give a correlation of -0.03, which is near-zero.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and SAFT?
Over the past 3 years, QQQ and SAFT moved with a correlation of -0.03, which is near zero, meaning they move largely independently. The past 12 months show a weaker link (-0.21) than the 3-year average (-0.03). Over 5 years the correlation is 0.06, and the annualized covariance of weekly returns is -18.8 %².
Among the 4755 assets we track against QQQ, SAFT ranks #4589 by 3-year correlation. Correlation aside, the last 12 months split them widely, with SAFT ahead by 22.5 points (+26.3% versus +48.8%). One caveat on sizing: SAFT is 1.6 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
QQQ vs SAFT: side by side
| QQQ (Invesco QQQ Trust) | SAFT (Safety Insurance Group, Inc.) | |
|---|---|---|
| 1-year return | +26.3% | +48.8% |
| 5-year return | +95.4% | +58.1% |
| Volatility (ann.) | 19.6% | 30.8% |
| Beta vs S&P 500 | 1.28 | 0.17 |
| Max drawdown (3Y) | -22.8% | -20.1% |
| Market cap | – | $1.5B |
| P/E (trailing) | – | 22.3 |
| Dividend yield | 0.44% | 3.55% |
| Expense ratio | 0.18% | – |
| Assets under management | $452.8B | – |
| Sector / category | ETF · US Growth & Tech | US Listed |
QQQ, Invesco's Large Growth fund, carries $452.8B under management, 104 holdings, a 0.18% expense ratio, a 0.44% trailing dividend yield.
Year-by-year returns
| Year | QQQ | SAFT |
|---|---|---|
| 2022 | -32.6% | +3.1% |
| 2023 | +54.9% | -5.4% |
| 2024 | +25.6% | +13.3% |
| 2025 | +20.8% | -0.8% |
| 2026 | +17.7% | +36.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and SAFT good diversifiers for each other?
Yes: at -0.03, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between QQQ and SAFT?
The QQQ/SAFT correlation stands at -0.03 on a 3-year window (1 year: -0.21, 5 years: 0.06), computed from weekly returns as of 2026-08-27.
Is SAFT a good diversifier for QQQ?
Yes: at -0.03, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.03 mean?
A reading of -0.03 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: QQQ correlations · SAFT correlations
